Codere switches River Plate sponsorship from sleeve to front-of-shirt
Nasdaq-listed firm to shell out £3.5m per season to one of Argentina’s most successful clubs
Codere has amended its sponsorship agreement with Argentinian football giants Club Atlético River Plate.
The original deal, struck in July 2021, saw Codere’s logo emblazoned on the shirt sleeve of the famous football club, however the updated deal sees the Nasdaq-listed company’s branding move to the front of the Primera División club’s shirt to become its main sponsor.
Media reports have indicated that the deal struck between the two parties is in the region of $3.5m (£2.6m) per season and will run for the next four seasons.
The deal is also incentivised with bonuses should certain targets be hit by the club. The Buenos Aires-based club will receive $200,000 should they win the Club World Cup or the Copa Sudamericana and $300,000 if they lift the Copa Libertadores.
The Codere brand will feature on the front of the club’s playing kit from 1 August.
River Plate, who count such names as Alfredo Di Stéfano, Gonzalo Higuain and Javier Mascherano among their alumni, are one of the most successful clubs in Argentinian football having won the Primera División a record 37 times.
Carlos Sabanza, Codere’s head of sponsorship, said: “We are very proud to be on the front of Club Atlético River Plate’s shirt and we are convinced that in this new phase we will continue to promote our brand together as well as provide the Argentine public with the best entertainment.
“We are aware of the responsibility that we have acquired with our presence in front of a River Plate shirt, and we will put all our efforts to continue growing together and achieving our goals.”
Club Atlético River Plate president Jorge Brito added: “Codere is a sponsor we already know and with whom we have travelled a very important path.
“We are proud that such a prestigious international brand continues to trust River and who has chosen to extend the agreement and become our main sponsor.”
In December 2021, Codere listed on the Nasdaq following a SPAC merger with DD3 Acquisition Corp. II and is currently trading at $2.25.